Electricity bills to go up by an average 5.94% from 2008
By Asha Popatlal, Channel NewsAsia | Posted: 26 December 2007 1845 hrs

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SINGAPORE : Households and businesses in Singapore will have to pay more for electricity from next year.

SP Services said tariffs will be going up from the first quarter of 2008.

A statement released on Wednesday showed that the new rates will hit a six-year high for households and small businesses.

SP Services attributed the higher cost of electricity to higher fuel prices.

On average, the tariffs will go up by 5.94 percent. This translates into an increase of about S$1.30 in the monthly bill of households staying in one-room flats.

Residents of 5-room flat units are likely to pay about S$5.50 more each month.

The rates are reviewed and adjusted according to fluctuating electricity costs every quarter, and they have been approved by industry regulator, the Energy Market Authority. - CNA /ls